The $9 billion takeover of Asciano has been delayed by the federal election

The federal election has delayed the $9 billion takeover and breakup of Asciano.

The deal by a super-sized consortium of companies from Australia, Canada, Qatar and China to acquire the ports and rail freight group had been expected to be finalised by June.

However, the Foreign Investment Review Board (FIRB) can’t make a decision on the deal when the government is in caretaker mode running up to the July 2 poll.

Asciano says it now expects FIRB approval no later than July 22.

The Asciano board has approved the deal, ending a bidding war which started in July last year. It also means a break-up of assets at Asciano.

Chris Corrigan’s Qube will get what it always wanted out of the deal — the Patrick Container Terminals Business — but in a 50/50 joint venture with Brookfield Infrastructure and its consortium for $2.915 billion.